EUR/GBP – 30M – SELLThere is also a ‘Double bottom retreat down’ chart pattern is discovered. The chart forms ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to go down.
The pair Euro/British Pound (EUR/GBP) goes from the bullish trendline down.
A bearish trend down to the next support at 0.85099 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 0.85312 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 0.8522114 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 0.85312 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85472 |
| 2nd High | 0.85460 |
| Next High | 0.85312 |
| Current Price | 0.85251 |
| Next Low | 0.85099 |
| 2nd Low | 0.85098 |
| 3rd Low | 0.84951 |
0.85312 – 0.85191 – 0.85164 – 0.85099 – 0.85098 – 0.84951